The total annual budget for flying a Citation V private jet 200 hours per year is approximately $835,001 or $1,360,107 for flying 400 hours per year. The maximum speed of the Citation V is 495 mph, but with slower climb, cruise and descending speeds it is more likely to average 396 mph which would equate to an average cost per mile of approximately $10.54 at 200 hours per year. If you fly 400 hours per year, you can spread the total fixed costs over more flight hours which reduces your cost per mile to $8.59.
These budgets do not include the cost to purchase the jet, depreciation or the cost of capital (interest payments.)
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